Sustainability and Real Estate: What Agents Need to Know BY MICHELE LERNER
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hen Christine Liaukus wanted to improve her home’s performance and value along with taking steps to eventually run it entirely with electricity rather than use fossil fuels, she was able to fund the updates with what she said was “essentially free money.” “New Jersey has a great Home Performance with ENERGY STAR program that pairs tax credits with rebates for things like heat pumps and upgrading your electrical panel,” said Christine Liaukus, an architect at the Center for Building Knowledge at the New Jersey Institute of Technology in Newark. “I used that program on my 1926 Tudor-style house to have an energy audit. I followed their recommendations to add dense pack cellulose insulation, air sealing in the attic and basement, and bought a new water heater.” The $14,000 of work was covered by a $4,000 rebate and a $10,000 interest-free loan. “They try to work out the payment so that it matches the savings on your energy bill, so for me it was about $68 a month,” said Liaukus. “Once the loan is repaid, you get the full benefit of energy savings.”
20 | NEW JERSEY REALTOR ® | November/December 2023
Whether it’s driven by a desire to save money on utilities or a broader commitment to sustainability, homeowners can be part of the solution to reduce their environmental impact—and real estate professionals can help educate their clients about innovations and programs that can improve their home’s comfort, lower their utility costs, raise their home’s value, and get ahead of the curve of anticipated code changes. To meet the U.S. commitment to cut greenhouse gas emissions by 50% by 2030 and achieve net-zero greenhouse gas emissions by 2050, builders, developers, and homeowners are likely to see increased focus on energy efficient upgrades. In fact, the Energy Department estimates all buildings, including homes and commercial buildings, account for 40% of the nation’s total energy use. New Jersey ranked 14th in the country on the 2022 State Energy Efficiency Scorecard by the American Council for an Energy-Efficient Economy, a nonprofit organization dedicated to energy research. The state adopted high standards for the energy efficiency of appliances and the use of low-flow faucets and established targets to reduce electric and natural gas use.
